PepGen Balance Sheet Health

Financial Health criteria checks 6/6

PepGen has a total shareholder equity of $147.4M and total debt of $0.0, which brings its debt-to-equity ratio to 0%. Its total assets and total liabilities are $173.9M and $26.5M respectively.

Key information

Debt to equity ratio

US$0

Debt

Interest coverage ratio	n/a
Cash	US$148.46m
Equity	US$147.44m
Total liabilities	US$26.46m
Total assets	US$173.91m

Recent financial health updates

Recent updates

PepGen Plunges On Mixed Phase 2 Data, But Higher Dose Could Offer Some Relief

Mar 31

Is PepGen (NASDAQ:PEPG) In A Good Position To Deliver On Growth Plans?

Nov 19

Here's Why We're A Bit Worried About PepGen's (NASDAQ:PEPG) Cash Burn Situation

Jun 27

Here's Why We're Watching PepGen's (NASDAQ:PEPG) Cash Burn Situation

Mar 04

Here's Why We're Watching PepGen's (NASDAQ:PEPG) Cash Burn Situation

Nov 19

PepGen (NASDAQ:PEPG) Is In A Good Position To Deliver On Growth Plans

Aug 06

PepGen: EDOs Could Enhance Dystrophin Expression Beyond Scope Of Current Treatments

Jul 31

The Prognosis For PepGen

May 20

PepGen: Long Road Ahead

Jan 20

Will PepGen (NASDAQ:PEPG) Spend Its Cash Wisely?

Nov 13

Will PepGen (NASDAQ:PEPG) Spend Its Cash Wisely?

Jul 31

We Think PepGen (NASDAQ:PEPG) Can Afford To Drive Business Growth

Dec 31

Financial Position Analysis

Short Term Liabilities: PEPG's short term assets ($151.0M) exceed its short term liabilities ($12.6M).

Long Term Liabilities: PEPG's short term assets ($151.0M) exceed its long term liabilities ($13.8M).

Debt to Equity History and Analysis

Debt Level: PEPG is debt free.

Reducing Debt: PEPG has not had any debt for past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss-making in the past, we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: PEPG has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: PEPG has sufficient cash runway for 1.5 years if free cash flow continues to reduce at historical rates of 32.7% each year.

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/04/22 23:14
End of Day Share Price	2026/04/22 00:00
Earnings	2025/12/31
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

PepGen Inc. is covered by 8 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Tazeen Ahmad	BofA Global Research
Debjit Chattopadhyay	Guggenheim Securities, LLC
Ananda Ghosh	H.C. Wainwright & Co.

PepGen Balance Sheet Health

Financial Health criteria checks 6/6

Key information

Recent financial health updates

Is PepGen (NASDAQ:PEPG) In A Good Position To Deliver On Growth Plans?

Here's Why We're A Bit Worried About PepGen's (NASDAQ:PEPG) Cash Burn Situation

Here's Why We're Watching PepGen's (NASDAQ:PEPG) Cash Burn Situation

Here's Why We're Watching PepGen's (NASDAQ:PEPG) Cash Burn Situation

PepGen (NASDAQ:PEPG) Is In A Good Position To Deliver On Growth Plans

Will PepGen (NASDAQ:PEPG) Spend Its Cash Wisely?

Recent updates

New major risk - Share price stability

PepGen Plunges On Mixed Phase 2 Data, But Higher Dose Could Offer Some Relief

PepGen Inc Announces Regulatory Updates On Freedom2 Trial

Price target increased by 8.6% to US$10.86

Price target increased by 7.0% to US$10.17

Pepgen Inc. Appoints Joseph Vittiglio as Chief Business and Legal Officer, Effective December 8, 2025

Is PepGen (NASDAQ:PEPG) In A Good Position To Deliver On Growth Plans?

Price target increased by 21% to US$11.50

Price target increased by 16% to US$9.50

Price target increased by 22% to US$8.33

PepGen Inc. has completed a Follow-on Equity Offering in the amount of $100 million.

New major risk - Share price stability

PepGen Inc.(NasdaqGS:PEPG) dropped from Russell 2500 Growth Index

Here's Why We're A Bit Worried About PepGen's (NASDAQ:PEPG) Cash Burn Situation

Pomerantz Law Firm Announces the Filing of A Class Action Against Pepgen Inc

Price target decreased by 31% to US$8.00

PepGen Inc. to Focus on Development of Promising DM1 Program Following 10 mg/Kg PGN-EDO51 Update

Price target decreased by 7.8% to US$11.80

PepGen Inc., Annual General Meeting, Jun 04, 2025

PepGen Inc. Announces Appointment of Two New Directors to Its Board

PepGen Announces Update to Phase 2 CONNECT2-EDO51 Study in Patients with DMD

Here's Why We're Watching PepGen's (NASDAQ:PEPG) Cash Burn Situation

New major risk - Share price stability

Pepgen Inc. Announces Positive Initial Results, Including Robust Splicing Correction, from Ongoing FREEDOM-DM1 Trial in Patients with DM1

Price target decreased by 21% to US$12.80

PepGen Inc. Announces CONNECT Program Updates

New major risk - Shareholder dilution

New minor risk - Market cap size

Insufficient new directors

Price target decreased by 9.4% to US$15.40

PepGen Inc. Announces Clinical Hold in the U.S. on IND Application to Initiate Connect2-EDO51 Phase 2 Study of PGN-EDO51 for Duchenne Muscular Dystrophy

Here's Why We're Watching PepGen's (NASDAQ:PEPG) Cash Burn Situation

Price target decreased by 13% to US$17.00

New major risk - Revenue and earnings growth

PepGen Inc. Announces Christopher Ashton to Retire from Its Board of Directors, Effective September 30, 2024

New major risk - Share price stability

PepGen Inc. Appoints Paul Streck as Executive Vice President, Head of Research & Development, Head of Research & Development

Price target decreased by 9.3% to US$19.60

PepGen (NASDAQ:PEPG) Is In A Good Position To Deliver On Growth Plans

Chief Medical Officer exercised options and sold US$61k worth of stock

PepGen: EDOs Could Enhance Dystrophin Expression Beyond Scope Of Current Treatments

PepGen Inc. Announces Positive Data from Low-Dose Cohort of Pgn-Edo51 in Ongoing Connect1-Edo51 Phase 2 Clinical Trial for Treatment of Duchenne Muscular Dystrophy

Chief Medical Officer exercised options and sold US$72k worth of stock

PepGen Inc. Appoints Afsaneh Mohebbi as SVP, Portfolio and Program Management and Dave Borah as SVP, Investor Relations and Corporate Communications

Chief Medical Officer exercised options and sold US$74k worth of stock

Pepgen Inc. Announces Executive Promotions

Insider notifies of intention to sell stock

The Prognosis For PepGen

Senior Vice President of Chemistry notifies of intention to sell stock

PepGen Inc., Annual General Meeting, Jun 20, 2024

PepGen Inc. Announces Clearance of CTA by UK Medicines & Healthcare Products Regulatory Agency to Begin CONNECT2-EDO51, a Phase 2 Clinical Trial designed to support potential accelerated approval of PGN-EDO51 for the Treatment of Duchenne Muscular Dystrophy

PepGen Inc. Receives U.S. FDA Fast Track Designation for PGN-EDODM1 for the Treatment of Myotonic Dystrophy Type 1

PepGen Inc. has completed a Follow-on Equity Offering in the amount of $80.08155 million.

New minor risk - Shareholder dilution

New major risk - Share price stability

Price target decreased by 14% to US$20.00

PepGen: Long Road Ahead

Mary Beth DeLena Joins PepGen as General Counsel and Secretary

Pepgen Inc. Announces First Patient Dosed in CONNECT1-EDO51 Phase 2 Clinical Trial of P GN-EDO51 for Duchenne Muscular Dystrophy Patients Amenable to Exon 51 Skipping

Pepgen Announces First Patient Dosed in Phase 1 FREEDOM-DM1 Clinical Trial of PGN-EDODM1 for Myotonic Dystrophy Type 1 (DM1)

PepGen Inc. Announces Appointment of Howard Mayer, M.D. to Board of Directors

Will PepGen (NASDAQ:PEPG) Spend Its Cash Wisely?

New major risk - Revenue and earnings growth

PepGen Inc. Announces FDA Lifted the Clinical Hold on its Investigational New Drug Application for FREEDOM-DM1 Phase 1 Study of PGN-EDODM1 for Myotonic Dystrophy Type 1 (DM1)

PepGen Inc. Presents PGN-EDODM1 Preclinical Data Supporting the Company's Enhanced Delivery Oligonucleotide Platform and PGN-EDO Program at Two Medical Conferences

New major risk - Share price stability

New major risk - Revenue and earnings growth

Will PepGen (NASDAQ:PEPG) Spend Its Cash Wisely?

PepGen Inc. Provides Update on Planned Initiation of Phase 1 Study of PGN-EDODM1 in Myotonic Dystrophy Type 1